Briggs v. Foster

Citations

• 137 F. 773
• 70 C.C.A. 349
• 1905 U.S. App. LEXIS 4202

Syllabus

<p>Deceit—Corporate Stock—Sale—Representation oe Agents.</p> <p>Where defendants, being in absolute control of a mining corporation, through three of its directors, contracted with another corporation for the sale of a large number of shares of stock held by defendants at the price of 30 cents per share, with the privilege of retaining all that the sellers secured above such price as their commission, and the sellers paid 3 cents of every 30 cents received for a share of the stock to the corporation and the other 27 cents to defendants, the sellers were mere agents for the defendants, who were therefore liable for fraudulent representations made by such sellers in prospecti issued to induce the purchase of such stock.</p>